Commentary & Deal Flow

€€€ NEW SSA MANDATE – REPUBLIC OF AUSTRIA 5YR & 15YR € OFFERING MAY FOLLOW €€€

The Republic of Austria, rated AA+/Aa1/AA/AAA/AA+ (S&P/Moody's/Fitch/DBRS/Scope), has mandated Barclays, BofA Securities, Deutsche Bank, J.P. Morgan, Nomura and Raiffeisen Bank International to lead manage its upcoming dual-tranche issuance.

An expected 144A/Reg S, € benchmark offering consisting of a new 5-year RAGB maturing 20-Oct-31 and a new 15-year RAGB maturing 20-Sep-41 will be launched and priced in the near future, subject to market conditions. The remaining primary dealer group will be invited to participate as co-lead managers.

• Notes: FCA/ICMA stabilisation. CACs apply. EU MiFID II / UK MiFIR target markets: Eligible counterparts, professionals and retail (all distribution channels).